244
Fashion Jobs
H&M
Visual Merchandiser Manager- Newmarket
Permanent · AUCKLAND
L'OREAL GROUP
Operations & Transport Manager
Permanent · AUCKLAND
ABBOTT
Tpm Contract Manufacturing Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Optometrist - Opsm Rotorua
Permanent · ROTORUA
DANGERFIELD
Online Coordinator
Permanent · AUCKLAND
PUMA
Key Account Manager nz
Permanent · AUCKLAND
L'OREAL GROUP
Key Account Manager
Permanent · AUCKLAND
PETER ALEXANDER
Part Time - Sales Assistant - Peter Alexander nz - Queenstown
Permanent · QUEENSTOWN
FOOT LOCKER
Sales Associate Casual
Permanent · LOWER HUTT
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Manukau
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Dunedin
Permanent · DUNEDIN
ESSILORLUXOTTICA GROUP
Retail Associate | Opsm Rangiora Eyecare
Permanent · CANTERBURY
PETER ALEXANDER
2 x Casual - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
PETER ALEXANDER
2 x Part Time - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
LULULEMON
Assistant Manager | Christchurch (Tuesday - Saturday Rotation)
Permanent · CHRISTCHURCH
ICEBREAKER
Icebreaker : Sales Associate, Casual - Wellington Airport Touchlab
Permanent · WELLINGTON
DFS
Personal Shopper
Permanent · AUCKLAND
H&M
Department Manager- Chartwell (Hamilton)
Permanent · HAMILTON
H&M
Store Manager Wellington
Permanent · WELLINGTON
H&M
Sales Advisor- 28h
Permanent · AUCKLAND
H&M
Assistant Store Manager- Sylvia Park
Permanent · AUCKLAND
H&M
Department Manager- Sylvia Park
Permanent · AUCKLAND
Published
Sep 14, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Boohoo reportedly mulling New Look buy if CVA vote fails

Published
Sep 14, 2020

Acquisition-hungry Boohoo Group is reportedly preparing to swoop on New Look if the value fashion retailer’s CVA doesn’t gain the support of landlords in a vote on Tuesday.


New Look



Having failed to generate any concrete bids for the company, New Look last week unveiled its CVA proposals that include massive rent cuts based on turnover for its stores, or zero rents, for a period of three years. But while the lenders that now control the firm are behind the plan and will pump in new funding if the CVA goes through, a number of key landlords are unhappy and could vote against it. That could mean it doesn’t achieve the 75% creditor support it needs.

Observers have said that would likely mean New Look going under again, which could be where Boohoo comes in, according to sources who spoke to The Sunday Times.

The giant online pureplay has already bought a number of distressed brands over a period of several years. They include Nasty Gal, Karen Millen, Coast, Oasis and Warehouse, the latter two having been acquired as a direct result of the lockdown making the businesses unviable. But in doing so, it has also closed all of their stores and insists it has no ambition to operate physical shops.

If Boohoo bought the business, it would be a blow to New Look’s 11,000 staff and its creditors. But the e-tailer hasn’t commented on whether it has any interest in such a purchase and a source close to the situation told the newspaper that a sale to Boohoo would be a last resort.

Would Boohoo really want to buy New Look? The value pricing of the brand would certainly sync with Boohoo's own approach to pricing and New Look's large market share in womenswear would also be attractive, as would the fact that it would expose Boohoo to a wider consumer group than its mainly young shoppers at present.

Copyright © 2024 FashionNetwork.com All rights reserved.